And Iíll Take the High Road

Baliís Benoa to Nusa Dua Toll Way to Open by April 25, 2013

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(7/13/2012)

PT Jasa Marga Bali – the company building the elevated toll way connecting Benoa and Nusa Dua – is convinced that weather conditions will not delay the construction of the roadway. The road project commenced in March 2012 with an estimated cost of Rp. 2.4 trillion (US$258 million) and must be completed the by April 25, 2013.

30% of the total cost of the road project is being financed from cash reserves of the consortium members and 70% via a loan syndication arranged via Bank Mandiri, BRI, BNI, BCA, BTN and BPD Bali.

Quoted by Kompas.com, the director of PT Jasamarga Bali Toll (JBT), Akhmad Tito Karim, said” “We are using land transportation and sea transportation to bring construction materials. What’s more, cement used is being prepared in several cities in Java.”

Karim’s statements were made at the signing of a loan syndication for the JBT project held in Nusa Dua on Monday, July 9, 2012.